Question

Find compound interest on rs 8000 for 4 years at10% per year

Answer 1

Hi ,

Principal = p = Rs 8000

Time = t = 4 years

number of times interest paid = n = 4

rate of interest = r = 10%

Let amount = A

A = p( 1 + r/100 )ⁿ

A = 8000[ 1 + 10/100 ]⁴

A = 8000 [ 1 + 1/10 ]⁴

A = 8000 × ( 11/10 )⁴

A = ( 8000 × 11 × 11 × 11 × 11 )/ 10000

A = 117128/10

A = Rs11712.80

compound interest = A - p

= Rs11712.80 - Rs 8000

= Rs 3712.80

I hope this helps you.

: )

Answer 2

Amount=principle(1+rate of interest/100)^no .of years
=8000(1+10/100)^4
=8000×11/10×11/10×11/10×11/10
=58564/5
=11,712.8

Compound interest=Amount-principle
=11,712.8-8000
=3712.8 R's.
HOPE IT HELP!!